Jul 31, 2013

U.S. stocks post July gains after Fed decision - Marketwatch July 31, 2013.

U.S. stocks post July gains after Fed decision

By Kate Gibson, MarketWatch 
NEW YORK (MarketWatch) U.S. stocks on Wednesday ended little changed, but posted monthly gains, after the Federal Reserve offered few clues on potential changes to its monetary policy.

After a two-day meeting, the Federal Open Market Committee kept its bond-buying program unchanged at $85 billion a month and said the economy was expanding at a “modest” pace, a change from the “moderate” pace seen in June. 

“The main change in the statement appears to be greater recognition of the risk of deflation,” emailed Marc Chandler, global head of currency strategy at Brown Brothers Harriman. 

“With many observers expecting the Fed to taper in September, disappointment that there was nothing in the statement to support such ideas has seen the dollar fall and stocks and bonds trade higher,” he added. 

The Dow Jones Industrial Average DJIA -0.14% fell 21.05 points, or 0.1%, to 15,499.54. The blue-chip index had risen as high as 15,634.32, clearing intraday and closing records reached Tuesday of last week. The Dow rose 4% for July, its eighth monthly rise in nine. 

“It’s all about the Fed today and then the employment report on Friday,” noted Nick Raich, CEO at the Earnings Scout. The Labor Department will release its July nonfarm-payrolls report on Friday morning. 

Posting a 5% monthly gain, the S&P 500 index SPX -0.01% fell a fraction to 1,685.73, with consumer discretionary leading sector gains. 

The S&P 500 rose to an intraday high of 1,698.43, putting it above its record close of 1,695.78 set last Monday and a fraction below its intraday record of 1,698.78, set the following day.
The Nasdaq Composite COMP +0.27% advanced 9.90 points, or 0.3%, to 3,626.37, leaving it up 6.6% for its best monthly performance since January 2012. 

Advancers ran just ahead of decliners on the New York Stock Exchange, where 903 million shares traded. Composite volume cleared 3.8 billion.

Yields climb

Treasurys rose, with the 10-year note 10_YEAR -0.84% yield off 3 basis points at 2.585%. The dollar DXY -0.24% fell against currency rivals including the yen USDJPY -0.01%

Up for a second month, September crude CLU3 +2.22%  rose $1.95, or 1.9%, to end at $105.03 a barrel on the New York Mercantile Exchange. 

Rising 7.3% in July, gold for December delivery GCZ3 -0.03%  fell $11.80 on Wednesday, or 0.9%, to $1,313 an ounce on the Comex.

Before the stock market opened, investors received a better-than-expected report on the labor market, with Automatic Data Processing Inc. saying private-sector employers added 200,000 jobs in July

Fed tempers tone: Hilsenrath

Federal Reserve officials point to modest growth, higher mortgage rates and low inflation as factors they are watching closely. WSJ chief economics reporter Jon Hilsenrath analyzes. 
Photo: AP 

The report “provides a bit of optimism heading into Friday,” emailed Dan Greenhaus, chief global strategist at BTIG LLC, referring to the nonfarm payrolls report to be released in two days. 

The ADP data bring “the average year-to-date [gain] to 169,000, but with a clear improvement in June and July to the level where the Fed can no longer ignore,” noted Peter Boockvar, chief market analyst at the Lindsey Group. 

The Commerce Department reported the U.S. economy grew at a 1.7% annual rate in the second quarter, which was better than expected. 

“It will be interesting to see if the rally we have fades as investors take a harder look at some of the numbers and underlying trends,” said David Heidel, regional investment manager at U.S. Bank Wealth Management. 

“On the surface, it looks like we got a couple of pretty good numbers. The market is hoping for more robust growth, which would help companies increase their top-line revenue growth, as the market would rather have that than quantitative easing,” said Heidel, referring to the central bank’s bond purchases. “It’s growth, but it’s extremely tepid,” Heidel added. 

“The hoped for second-half improvement remains alive, though, with the good July jobs report. This creates quite a conundrum for the Fed, who needs to react to the improving jobs picture, but wonder if it’s sustainable while economic growth remains well below trend,” Boockvar concluded. 

U.S. stocks ended mostly higher on Tuesday.

Wednesday’s movers

Symantec Corp. SYMC +9.57% rallied 9.6% after the maker of Norton anti-virus software reported first-quarter profit and revenue that beat estimates. 

Garmin Ltd. GRMN +7.57% advanced 7.6%. The personal-navigation-device maker reported a 7.2% drop in second-quarter earnings as revenue dropped in its key automotive and mobile segment, but results topped Wall Street estimates. 

Comcast Corp. CMCSA +5.55% CMCSA +5.55% said second-quarter profit rose 29% as higher cable prices helped to offset a decline in video subscribers. The cable operator’s shares gained 5.6%.
“We have had good earnings, even though estimates were reduced for the current quarter, with over half reporting, two-thirds have beaten expectations,” said Heidel. 

Whole Foods Market Inc. WFM -2.12% and MetLife Inc. MET +0.39% were set to post results after the close. 

Kate Gibson is a reporter for MarketWatch, based in New York.

US Stocks close mixed, but post best July since 2010; FB ends below $38 - CNBC July 31, 2013

Stocks close mixed, but post best July since 2010; FB ends below $38

Stocks finished flat on the final trading day of the month, after the Dow rallied to hit an all-time high, as the Federal Reserve said it will maintain its bond-buying policy in its ongoing effort to bolster the economy.

(Read more: Obama defends Summers amid Fed speculation)

"Today's comments were what the market wanted," said Michael Sheldon, chief market strategist at RDM Financial Group. "The Fed didn't change too much in its statement…while the FOMC is likely to start tapering its asset purchase program before too long, Bernanke has reminded us that he is aware of the fact that rising rates can have an effect on the economy and inflation remains low. These two factors indicate that the Fed will likely not be in a big rush unless economic data strengthens faster than expected."
Name Price Change %Change
DJIA Dow Jones Industrial Average 15499.54
-21.05 -0.14%
S&P 500 S&P 500 Index 1685.73
-0.23 -0.01%
NASDAQ Nasdaq Composite Index 3626.37
9.90 0.27%

The Dow Jones Industrial Average finished slightly lower. The blue-chip index was up more than 100 at its session high, setting a fresh intraday record of 15,634.32.

The SaP 500 and Nasdaq closed slightly higher. Earlier, the Nasdaq hit its best level since October 2000. But all three major averages rallied more than 4 percent each for the month and logged their best July performances since 2010.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded above 13.

Among key S&P sectors, consumer discretionary and energy led the gainers, while utilities slid.

Facebook walks a 'delicate' line: Expert
Dan Ackerman, Senior Editor, Cnet.com, and Youssef Squali, Cantor Fitzgerald, provide perspective on the social media company's future growth and whether it's too late to climb on the Facebook bandwagon as the stock trades around its IPO price today.
The central bank said it will continue buying $85 billion in mortgage and Treasury securities per month. In other changes to the policy statement, the Fed signaled concern about higher mortgage rates and flagged the risks of inflation falling too far below its target. But the Fed said that the economy is growing only modestly, a downgrade from its previous assessment in June. (Watch: Art Cashin:Federal Reserve 'chickened out') Earlier in the session, data showed that economic growth in the U.S. unexpectedly accelerated in the second quarter, with the GDP growing at a 1.7 percent annual rate, according to the Commerce Department. And private employers added 200,000 jobs in July, topping economists' expectations in an encouraging sign for the labor market recovery. The ADP report came ahead of the widely-watched government jobs data, due at the end of the week. Economists surveyed by Reuters expect nonfarm payrolls to have risen 184,000 in July. (Read more: Big jobs numbercoming? Data firm says just 23,000) In another upbeat sign for the economy, the pace of business activity in the Midwest picked up modestly in July. And U.S. labor costs rose in the second quarter, according to the Labor Department.
Earlier Facebook broke above its May 2012 initial public offering price of $38 a share, fueled by positive momentum following the company's better-than-expected earnings and a new program aimed at helping small and mid-size developers distribute their games. (Read more: Why the Facebook rally could end at the IPO price) Herbalife spiked after billionaire investor George Soros took a large long position in the nutritional supplements maker, according to sources. Soros' position in Herbalife is one of his top three holdings, sources said. Meanwhile, Soros provided no comment on the position to CNBC. JCPenney slumped after the NY Post reported that lender CIT has stopped supporting deliveries from smaller manufacturers to Penney stores. Among earnings, Comcast rallied after the cable company posted quarterly results that exceeded Wall Street forecasts as it added more Internet customers than expected and saw a more than 20 percent increase in operating cash flow at its NBCUniversal unit. Comcast is the parent company of NBCUniversal. MasterCard jumped after the credit-card provider beat earnings expectations. Rival Visa also traded higher. Humana gained after the health insurance provider beat earnings expectations and lifted its guidance for the year on strong growth in membership levels. And SodaStream zipped higher after the home soda systems maker topped earnings expectations. Approximately 60 percent of S&P 500 companies have posted quarterly results so far, with 67 percent of firms exceeding earnings expectations and about 55 topping revenue estimates, according to the latest data from Thomson Reuters. Allstate, CBS, Wholefoods and Dreamworks Animation are among notable companies slated to post results after the closing bell. Air Products and Chemicals rallied after activist investor Bill Ackman launched his biggest bet yet, taking a 9.8 percent stake in the company, a $2.2 billion investment.
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter:

Fed Meeting Ends With No Sign of New Direction: NYT ALERT FGC BOLSA - FGC FINANCIAL MARKETS JULY 31, 2013



Compiled: July 31, 2013 02:37:26 PM

Fed Meeting Ends With No Sign of New Direction
The Federal Reserve announced no changes after the latest meeting of its policy-making committee and offered no indication how soon it might start to reduce its monthly bond purchases.

Convulsed by smuggling to India, Pakistan forbids gold imports for a month: GATA | THE GATA DISPATCH JULY 31, 2013.

Convulsed by smuggling to India, Pakistan forbids gold imports for a month

Countering Devaluation: Government Slaps Temporary Ban on Gold Import
From the Express Tribune
Karachi, Pakistan
Wednesday, July 30, 2013


ISLAMABAD -- In an attempt to address steep devaluation of the rupee against the dollar, Pakistan on Tuesday temporarily banned import of gold to save the precious foreign currency reserves.

The Economic Coordination Committee of the Cabinet, headed by Finance Minister Ishaq Dar, took the decision to ban the import of the yellow metal for one month with immediate effect.

During a meeting with Dar in Karachi last week, the Exchange Companies Association of Pakistan (ECAP) had claimed that smuggling of gold to India was causing rupee devaluation, as the importers were mopping up dollars from the market to meet the needs of the Indian buyers.

After the Indian government's decision to discourage gold import by imposing 8 percent duties, the buyers had shifted to Pakistan, where the commodity was allowed to be imported duty-free since 2001.

For encouraging re-export of gold products Pakistan had allowed the duty-free import of gold under "entrustment" and the "self-consignment" schemes of 2001.

"There have been serious apprehensions that these schemes for duty-free import of gold are being abused by some unscrupulous elements and the national interest is being damaged. Instead of being used for its intended purpose, the gold is being smuggled to India," read an official handout.
According to the ECC decision, the operation of these schemes will remain suspended until end-August and the ban will allow the government sufficient time to re-examine the operation of these schemes with a view to speedily removing any loopholes and deficiencies.

It further stated that the government will again restore these schemes in an improved form so that genuine exporters of gold jewelry are facilitated in the best possible way to contribute to the national objective of increasing exports.

The government has partly addressed the reasons behind this steep devaluation of rupee by banning the gold import. However, it has yet to take any action against the exchange companies involved in hoarding of dollars on hope of making big fortunes, according to industry experts.

* * *

Defendants in Wealth-Building Scheme Banned from Telemarketing, Selling Business Opportunities, and Producing or Distributing Infomercials: FTC | Enforcement Actions July 31, 2013.

Defendants Must Surrender Available Assets in Settlement with FTC and Colorado Attorney General

Russell and Catherine Dalbey – who allegedly defrauded consumers with promises of making big bucks by brokering seller-financed promissory notes – have settled with the Federal Trade Commission and the Colorado Attorney General.
Using infomercials, print advertising, telemarketing calls, and testimonials, the Dalbeys and the three companies they controlled convinced consumers to part with hundreds and sometimes up to tens of thousands of dollars to participate in the “wealth-building” program “Winning in the Cash Flow Business,” according to the complaint filed by the FTC and the Colorado Attorney General in 2011.
The agreed-upon order bans the Dalbeys from telemarketing; from marketing or selling business opportunities; and from producing or distributing infomercials.  The order also prohibits them from making deceptive claims about the efficacy, benefits, price, or availability of any product, program, or service, and bars them from using deceptive endorsements or failing to disclose restrictions regarding any product, program, or service.
Under the settlement, the Dalbeys must disclose their assets in sworn financial statements, repatriate all foreign assets, and cooperate fully as the FTC and the Colorado Attorney General’s office determine how much of an agreed-upon $330 million judgment they can pay.  The judgment will be suspended when the defendants surrender of those assets.
Almost one million consumers nationwide bought products and services from the Dalbeys’ Westminster, Colorado-based company, Dalbey Education Institute, LLC (DEI ), after seeing an infomercial or receiving a direct mail piece touting the substantial amount of money they could earn brokering seller-financed promissory notes or privately held mortgage loans secured by homes or land.  According to the complaint, the infomercials made deceptive claims that consumers would experience quick and easy success using DEI’s three-step program: “Find ‘Em,” “List ‘Em,” and “Make Money.”  The defendants’ claims were underscored by allegedly atypical, and sometimes false, testimonials from consumers who claimed to have made “$1.2 million in 30 days,” “$79,000 in a few hours,” and “$262,216 part time,” for example.
The complaint alleged that consumers spent approximately $40 to $160 on the initial program and were encouraged by telemarketers to spend hundreds or thousands of dollars more on additional products or services such as multi-day seminars, coaching sessions, and promissory note holder lead lists.  Very few made the money the Dalbeys promised they would.
Under a separate stipulated order against Russell Dalbey’s three companies – DEI, LLLP; Dalbey Education Institute, LLC; and IPME, LLLP – they are jointly and severally liable along with the Dalbeys for the $330 million judgment.
The Commission votes approving the stipulated orders were 4-0.   
The order against the three companies was entered by the U.S. District Court for the District of Colorado on July 29, 2013, following approval by the U.S. Bankruptcy Court for the District of Colorado.  Having ceased operations shortly after the FTC and Colorado Attorney General filed their complaint, the three companies filed Chapter 7 bankruptcy petitions on September 21, 2011.
The U.S. District Court for the District Colorado entered the stipulated order against the Dalbeys on July 22, 2013.
NOTE:  Stipulated orders have the force of law when approved and signed by the District Court judge.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC's online Complaint Assistant or call
1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics.  Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.
Betsy Lordan
Office of Public Affairs


Alysa Bernstein
Bureau of Consumer Protection

Michelle Rosenthal
Bureau of Consumer Protection

Related Items:

More news from the FTC >>

European stocks climb after solid U.S. data July 31, 20213 - MarketWatch.

European stocks climb after solid U.S. data

By Sara Sjolin, MarketWatch 
LONDON (MarketWatch) European stock markets rose for a third straight day on Wednesday, after better-than-expected U.S. jobs and growth data. 

Investors, however, refrained from making any major moves ahead of the latest policy decision from the Federal Reserve due later in the day. 

The Stoxx Europe 600 index XX:SXXP +0.05%  rose 0.1% to close at 299.58. The index closed out July 5.1% higher, marking the biggest monthly gain since October 2011. 

Challenging Angela Merkel

The leftist challenger in Germany’s September election, Peer Steinbrück, says in a WSJ interview that he would let up on Chancellor Merkel’s austerity policies and would pursue a hard line with the U.S. over the NSA scandal. 

The index was swinging between small gains and losses earlier in the day, but started moving higher after a set of encouraging U.S. data.
The economy grew at a 1.7% annual rate in the second quarter, beating analyst expectations. Growth in the first quarter, however, was revised down to 1.1% from 1.8% as part of the government’s periodic update to how it measures the size of the economy and how fast it’s growing.
Meanwhile, private-sector employers added a stronger-than-expected 200,000 jobs in July, according to the ADP report, which is widely seen as a potential indicator of what will come in Friday’s bigger nonfarm-payroll jobs report.
Investors have in recent months closely been watching data from the U.S. to gauge if they strengthen or weaken the case for the U.S. Federal Reserve to taper its monthly $85 billion asset purchases, also known as quantitative easing. 

“The data is still consistent with the tapering process to launch in the fourth quarter, and our estimate is October,” said Tom Porcelli, chief U.S. economist at RBC Capital Markets.
“But I wouldn’t just pick on today’s reports alone. Over the course of the last several weeks, data have been consistent with the idea of the second half of the year looking better than the first half,” he added. 

“I think at the end of the day, stock markets have to learn to stand for themselves [without QE] and the reasonable approach to that is to see: How does the economic background look? We’re looking at 2.5% growth [in the second half] and I’m not sure what’s wrong with that from an equity perspective.”

Reuters Enlarge Image
Federal Reserve Board Chairman Ben Bernanke will be in the spotlight on Wednesday when the central bank announces its latest policy decision.
The Fed’s stance on its quantitative easing program was further likely to get attention after the European market close on Wednesday, when the Federal Open Market Committee announces its latest policy decision. Investors were expected to hang on every word change in the statement to see whether the central bank adds more clarity on the timing of tapering asset purchases

Mixed economic data from Europe

The broader European stock markets also digested mixed data from the region. In Germany, data showed retail sales unexpectedly slumped in June. Sales dropped 1.5% on the month, fully erasing gains made in April and May, and marking the sharpest monthly drop since December 2012. 

On a more upbeat note from the country, jobless claims surprisingly dropped in July, indicating that the labor market is picking up from a weak start to the year. 

Meanwhile, the unemployment rate for the European Union fell for the first time in over two years in June, down to 10.9% from 11% in May. Unemployment in the euro zone edged down to 19.27 million from 19.29 million, the first decline since April 2011, although not enough to move the overall jobless rate from a euro-era high of 12.1%.


Among country-specific indexes in Europe, the FTSE 100 index UK:UKX +0.76%  gained 0.8% to 6,621.06, while France’s CAC 40 index FR:PX1 +0.15%  rose 0.2% to 3,992.69. Germany’s DAX 30 index DX:DAX +0.06%  picked up 0.1% to 8,275.97. 

Posting one of the biggest gains in the pan-European index, Belgian brewer Anheuser-Busch InBev BE:ABI +6.91%   BUD +6.15% , the owner of the Budweiser brand, rose 6.9% after reporting a rise in second-quarter earnings and posting revenue above expectations. 

Also in the drinks business, spirit maker Diageo PLC UK:DGE +3.24%  added 3.2% after reporting a rise in full-year profit and revenue, although it warned of some weakness in emerging markets and continued trouble in western Europe. 

Shares of Peugeot SA FR:UG +6.67%  jumped 6.7%, after the car maker sharply reduced losses in the first half of the year, despite the weakness in the European auto market. 

Siemens AG DE:SIE +1.99%   SI +2.58%  closed 2% higher after the industrial heavyweight dismissed Chief Executive Peter Loescher and replaced him with Joe Kaeser, the current chief financial officer. 

Electricite de France SA FR:EDF +1.52%  gained 1.5% after S&P lifted the utility firm to hold from sell. 

On a more downbeat note, shares of potash maker K+S AG DE:SDF -12.50%  slid 8.5% after HSBC cut the firm to neutral from overweight. The company sank 24% on Tuesday, after peer Uralkali USD RU:URKA -19.18%  said it expects a drop in potash prices. See: Potash makers getting creamed after lowered price outlook
Shares of Eutelsat Communications FR:ETL -6.22%  slumped 6.2% after the satellite provider said it will buy 100% of Satelites Mexicanos SA for $831 million. 

Shares of ThyssenKrupp AG DE:TKA -3.77%  dropped 4.2% after UBS cut the German financial conglomerate to sell from buy, citing an increasing risk that it will need to raise new capital.
Shares of Solvay SA FR:SOLB -2.21%  fell 2.2% after the chemicals firm reported a 38% drop in second-quarter profit. 

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

Are Bonds Calling a Top in Stocks?: MoneyShow traders Daily Alert July 31, 2013.

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Real gross domestic (GDP) increased at an annual rate of 1.7 percent in the second quarter of 2013: ESA I Gross Domestic Product Second Quarter 2013 (Advance Estimate).pdf July 31, 2013

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Real gross domestic (GDP) increased at an annual rate of 1.7 percent in the second quarter of 2013, according to today’s advance estimate.

Confusion, not regulation the major dampener for Indian gold demand: Gold Mining Sector Top Stories - Gold Mineweb July 31, 2013.

TOP STORIES | Wednesday , 31 Jul 2013                                                     

Confusion, not regulation the major dampener for Indian gold demand

According to UBS, while the recent flurry of regulations will dampen gold demand in India, it will not fundamentally change attitudes toward the metal.    Wednesday , 31 Jul 2013

Indications show silver is ready to rise faster than gold

The silver price was restrained yesterday, but indications are that it is ready to rise faster than gold now, says Julian Phillips.    Wednesday , 31 Jul 2013

Metals writedowns since 2008 breach $200bn - Tumazos

Managers in all resources except titanium and fertilizers overestimated volumes and selling prices and underestimated operating and capital costs, says analyst John Tumazos.    Wednesday , 31 Jul 2013

CFTC files complaint in yet another FLA precious metals scheme

The CFTC has targeted precious metals consumer fraud in Florida, which may be a haven for telemarketers offering illegal, off-exchange financed commodity transactions to retail customers.    Wednesday , 31 Jul 2013

Einhorn trades bullion for gold miners on stock ‘free fall’

The latest trade echoes a bet he made in 2011 when he cited a “substantial disconnect” between the price of gold and mining firms.    Wednesday , 31 Jul 2013

India hopes to contain gold imports below last year's level

The country’s finance minister said this a week after the central bank restricted imports further by tying imports to exports volumes.    Wednesday , 31 Jul 2013

Gold's two markets-in-one can anger and confuse

Given recent moves in the price of gold, it might be worth taking a leaf from behavioural economics and view the gold market as not one, but two.    Tuesday , 30 Jul 2013

Swiss National Bank suffers Q2 loss after gold price rout

The Swiss National Bank suffered a loss of $20 billion in the second quarter as the price of gold tumbled.    Wednesday , 31 Jul 2013

COMPANY RELEASES                                                     

Sumatra Copper & Gold Releases Quarterly Activities Report

Ariana Directors' Dealings and Holding in Company

Northern Vertex Amends Interim Financial Statements

PMI Gold Corporation Releases Quarter Activity Update

Abcourt Provides Update on Elder Gold Mine

Manicouagan & Flemish Provide Update Regarding Proposed Business Combination

Kootenay Updates Hydrologic & Environmental Baseline Studies

Riverside and Antofagasta Commence Drilling in BC

Gold Resource Corporation Declares Milestone July Monthly Dividend

Veris Q2 Financial Results Release Date & Conference Call

Midway Updates Progress at Pan Project in Nevada

Alacer Gold Announces Q2 2013 Financial Results

ECR Completes Due Diligence on Itogon Project

Premier Provides Hardrock Exploration Update

Gold Fields Appoints New Head for West Africa Region

RTTNews Market Briefing July 31, 2013.

Commentary July 31, 2013
With traders waiting on a highly-anticipated announcement from the Federal Reserve, stocks may show a lack of direction in early trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures down by just 6 points. (Jul 31, 2013) Full Article 
Economic News
Confidence among British consumer surged to its highest level in more than three years in July, a report from GfK NOP revealed Wednesday. The consumer sentiment index based on a survey by GfK rose to -16 in July from -21 in June. The score was the highest since April 2010. The survey was conducted between July 2 and 21, a few days before the gross domestic product figures were released. (Jul 31, 2013) Full Article 
China's central authorities vowed to maintain steady economic growth in the second half of 2013 despite the "extremely complicated domestic and international conditions." Macro policy should be stable, micro policy should be flexible and social policy should support the bottom line and all of them should be coordinated, the state news agency Xinhua reported Tuesday. (Jul 31, 2013) Full Article
The number of unemployed in Germany declined for a second consecutive month in July, reaffirming the robust labor market situation in the country, the latest figures released by the Federal Labor Agency revealed Wednesday. The number of unemployed fell by 7,000 persons in July from a month earlier to 2.93 million. Economists had forecast no change in the unemployment figure. (Jul 31, 2013) Full Article
Unemployment in the euro area dropped in June for the first time since April 2011, adding to the list of positive data coming from the region. Still, the rate of unemployment remains at record high. Further, inflation held steady below the European Central Bank's target, favoring the low interest rate regime for an extended period of time. (Jul 31, 2013) Full Article 
Employment in the U.S. private sector increased by more than anticipated in the month of July, according to a report released by payroll processor Automatic Data Processing, Inc. (ADP) on Wednesday. (Jul 31, 2013) Full Article 
Economic activity in the U.S. increased at a faster than expected rate in the second quarter, according to a report released by the Commerce Department on Wednesday, although the report also showed a notable downward revision to the pace of growth in the first quarter. (Jul 31, 2013) Full Article 
Earnings News
Symantec Corp. (SYMC) provided a downbeat outlook for the current quarter, after the security software maker reported a first-quarter profit that edged down from last year, on higher costs. (Jul 31, 2013) Full Article 
Take-Two Interactive Software Inc. (TTWO) Tuesday reported a narrower loss for the first quarter, as a drop in expenses outpaced weak revenues. The results beat expectations and the video-game publisher boosted its outlook for fiscal 2014. (Jul 31, 2013) Full Article 
Fiserv Inc. (FISV) on Tuesday reported a decline in earnings for the second quarter, hurt by higher expenses and increased income tax provision. However, adjusted earnings per share beat consensus and revenue came in line with view. (Jul 31, 2013) Full Article
Amgen Inc. (AMGN) on Tuesday reported a lower profit for the second quarter, due to higher research and other expenses, but the biotechnology company managed to beat market expectations and lifted its revenue forecast for the year. (Jul 31, 2013) Full Article
Humana Inc. (HUM) on Wednesday reported a rise in second-quarter earnings, beating estimates, on increased memberships. The health insurer boosted its fiscal 2013 profit outlook. (Jul 31, 2013) Full Article 
Comcast Corp. (CMCSK, CMCSA) reported a jump in second-quarter profit, on back of better performance at its NBCUniversal unit and gained more subscribers. Both earnings and revenue surpassed Street expectations. (Jul 31, 2013) Full Article 
Wednesday, Hyatt Hotels Corp. (H) posted a sharp rise in earnings for the second quarter, driven by increased demand, particulary in North America. Adjusted earnings per share beat estimates, as did its revenues. (Jul 31, 2013) Full Article 
Broker Ratings Changes
FBR Capital Markets Cuts Jacobs Engineering Group Inc. (JEC) To Market Perform From Outperform With $63 up from $58 Price Target
(Jul 31, 2013)  
FBR Capital Markets Downgrades Sprint Corporation (S) To Market Perform From Outperform With $6 Price Target
(Jul 31, 2013)  
Nomura Ups Alcatel-Lucent (ALU) To Buy From Neutral
(Jul 31, 2013)  
Todays WS Events
Allergan Q2 13 Earnings Conference Call At 11:00 AM ET
Allergan Inc. (AGN) will host a conference call at 11:00 AM ET on July 31, 2013, to discuss its Q2 13 earnings results. To access the live webcast, log on at www.allergan.com A replay of the call can be heard by dialing 1-800-839-2234 (US) or 1-402-998-1175 (International). (Jul 31, 2013)  
CA Technologies Annual Meeting Of Stockholders At 10:00 AM ET
CA Technologies (CA) will host its 2013 annual meeting of stockholders at 10:00 AM ET on July 31, 2013. To access the live webcast, log on at http://investor.ca.com (Jul 31, 2013)  
CBS Q2 13 Earnings Conference Call At 4:30 PM ET
CBS Corp.(CBS-A) will host a conference call at 4:30 PM ET July 31, 2013, to discuss its Q2 13 earnings results. To access the live webcast, log on at www.cbscorporation.com A call can be accessed by dialing (888) 740-6143 (US) or (913) 312-1495 (International). For replay a call, dial (800) 839-4276 (US) or (402) 220-1735 (International). (Jul 31, 2013)  
Humana Q2 13 Earnings Conference Call At 9:00 AM ET
Humana Inc. (HUM) will host a conference call at 9:00 AM ET on July 31, 2013, to discuss its Q2 13 earnings results. To access the live webcast log on to www.humana.com To listen to the live call, dial 888-625-7430. For a replay call, dial 855-859-2056 with conference ID # 14857032. (Jul 31, 2013) 
Southern Co. Q2 13 Earnings Conference Call At 1:00 PM ET
Southern Co. (SO) will host a conference call at 1:00 PM ET July 31, 2013, to discuss its Q2 13 earnings results. To access the live webcast, log on at http://investor.southerncompany.com/events.cfm (Jul 31, 2013)  
Whole Foods Market Q3 13 Earnings Conference Call At 5:00 PM ET
Whole Foods Market Inc. (WFM) will host a conference call at 5:00 PM ET on July 31, 2013, to discuss its Q3 13 earnings results. To access the live webcast log on to http://www.wholefoodsmarket.com/company-info/investor-relations To listen to the live call, dial 866-952-1906 (US) or 785-424-1825 (International) with conference ID "Whole Foods." (Jul 31, 2013) 

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From The Desk of Fernando Guzmán Cavero: Notification

Dear Friends:  Soon I'll be back with you with my selected financial daily News. Please, stay tuned                                     ...